Prime investment opportunity on the market in Bradford

Published on: 15th January 2019

A high specification trade counter investment is being offered for sale in Bradford. The property is let in its entirety to Selco Trade Centres Ltd (T/A Selco Builders Warehouse and Plumbase) on a 25 year lease from 10th September 2008 with a rental guarantee from Grafton Group (UK) PLC.

Occupying a highly prominent position on major link Road, Tong Street, the property comprises two modern trade counter units measuring over 48,000 sq ft GIA.

Selco occupy the larger of the two units, utilising the space as a builder’s warehouse for trade purposes and the second unit is occupied by Plumbase for use as a plumber’s merchant showroom.

“Bradford is an incredibly well-connected city within the central core of West Yorkshire and the subject property takes advantage of this, located on Tong Street, a busy road link within 2 miles of the city centre.

The investment, with a passing rent of £320,756 per annum, is being offered for sale by our Leeds industrial agency team, who are seeking offers over £5,500,000, subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive 5.47% NIY.

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Prime investment sold on Exeter High Street

Acting on behalf of Rollings Investments Ltd, our investment agency team has recently sold 228 High Street Exeter, a mixed retail and office investment. The three storey 7,646 sq ft property, which is located at the junction of the High Street and Gandy Street, was sold for £1.65million to Cooper Estates.

Acting on behalf of Rollings Investments Ltd, our investment agency team has recently sold 228 High Street Exeter, a mixed retail and office investment.

The three storey 7,646 sq ft property, which is located at the junction of the High Street and Gandy Street, was sold for £1.65million to Cooper Estates.

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Located opposite House of Fraser and midway between the Princesshay and Guildhall Shopping Centres in the prime retail destination with a number of national and independent retailers located nearby.

The property comprises a retail unit on the ground floor with offices on the first and second floors and is let to the Co-operative Bank. The tenants are not currently in occupation and the lease expires in March 2019 which provides an excellent opportunity for redevelopment for offices or residential development of the upper floors.

David Ferris, partner in our capital markets team commented, “Following a long-standing relationship with Rollings Investments we are pleased to have completed the sale of this city centre investment on their behalf.

“The demand for retail space in the prime section of Exeter High Street, between the 530,000 sq ft Princesshay Shopping Centre and the Guildhall Shopping Centre remains strong in spite of the travails of the retail sector in 2018 and the sale provides Cooper Estates with a number of asset management opportunities.”